At the recent TOKEN2049 in Singapore, Nasdaq CEO Adena Friedman highlighted the significant potential for tokenization, which she says could unleash tens of billions of dollars in trapped capital.

Financial assets, such as stocks and bonds, can be represented as digital tokens through tokenization, which can be transferred using blockchain technology.

In an interview with CNBC at the TOKEN2049 conference in Singapore, Friedman highlighted growth in institutional interest over the past year, which contributed in part to the passage of the GENIUS Act in the U.S., which established a regulatory framework for stablecoins.